Mortgage from the local savings and loan

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Reference no: EM131456313

Yale Mortgage Purchasing Company (YMPC) wants to buy your mortgage from the local savings and loan. The original balance of your mortgage was $160,000 and was obtained five years ago with monthly payments at 9 percent interest. The loan was to be fully amortized over 30 years. a. What should YMPC pay if it wants a 10 percent return?

Reference no: EM131456313

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